Boston - April 14, 2010 - Today, Governor Deval Patrick and Mayor Thomas M. Menino joined John Harthorne, David Constantine and Akhil Nigam, the founders of MassChallenge, tolaunch the world's largest global startup competition. The competition will accelerate the development and success of high-growth, high-impact new businesses, while stimulating job creationacross the Commonwealth and beyond.

Awards totaling up to $1 million will be allocated to the winning teams. MassChallenge will continue to raise additional funds throughout the competition, and in mid-October, an expert panel willidentify a dozen or more teams as winners. Any startup entrepreneur can enter the MassChallenge competition, with any new business, from anywhere in the world. The actual competition willconduct activities in Massachusetts where innovation resources are most concentrated. The MassChallenge team and up to 100 finalist teams will receive luxury office space onBoston's waterfront to maximize networking and mentorship opportunities during the intensive accelerator phase of the competition, which runs July to October, 2010.

Applicants looking to enter the MassChallenge
global startup competition should visit www.masschallenge.org as early as
possible in order to maximize associated benefits. The deadline
for entrant submission is June 11, 2010 and there are certain discounts
available for early entry. Potential mentors, judges, sponsors and volunteers
can also use the website to register and receive more information.